Following an uproar by Australians, Kraft Foods is recanting on its plans to name a new line of its vegemite product "iSnack 2.0." The high-tech, forward-looking concoction is a blend of vegemite and cream cheese. Yum!

The ludicrous name, which sounds like a joke (but isn't), was selected by Kraft as part of a public naming contest that fielded 48,000 entries.

According to the Brisbane Times, following an overwhelmingly negative reaction to the choice, Kraft issued a statement that it was backing down: "Please bear with us for the next 48 hours as we finalise how Australians and New Zealanders can decide the new name through an independent popularity vote."

An announcement from Kraft Foods regarding the name is expected on Friday.

I'm totally and utterly shocked that a mix of Vegemite and cream cheese called iSnack 2.0 didn't work.